Western Grove, Boone County, Arkansas Property Taxes
The median property tax rate in Western Grove, AR is 0.91%, slightly below the national median of 0.99% but higher than the Arkansas state median of 0.84%. With a median home value of $125,100 in Western Grove, the typical annual property tax bill amounts to $1,062, which is less than the national median of $2,690. Property taxes in Western Grove are calculated based on the tax assessed value, often lower than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Western Grove's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Western Grove or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Western Grove, Boone County, Arkansas Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.91%
Estimate Property Tax Bill
$1,138
$1,056
Ownwell’s Western Grove Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Western Grove with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Western Grove to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Western Grove, Boone County, Arkansas
Property taxes in Western Grove, Arkansas, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Western Grove is 0.91%, which is lower than the U.S. national median of 0.99%. Local government entities within Western Grove set these rates annually, and they can vary significantly across different neighborhoods. Each year, Western Grove estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Western Grove's effective property tax rate to other areas in Boone County and the national median. For comparison, the zip code 72685 has both the highest and lowest median property tax rate of 0.91%. Understanding how these areas compare with Western Grove provides valuable insights into the varying tax landscape across Boone County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Western Grove Tax Rate
0.91%
Average Boone County Tax Rate
0.89%
Average Arkansas Tax Rate
0.84%
Average United States Tax Rate
0.99%
Property Tax Rates Across Western Grove, Boone County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72685 | 0.64% | 0.77% | 0.91% | 0.91% | 0.91% |
Source: Ownwell
Property Tax Assessment Values Across Western Grove, Boone County, Arkansas
In Western Grove, Arkansas, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Boone County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Western Grove, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Western Grove helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 72685 has both the highest and lowest median tax bill at $1,062, reflecting the localized nature of property tax assessments.
Property Tax Assessment Values Across Western Grove, Boone County, Arkansas
Source: Ownwell
$70,200
$97,650
$125,100
Average Western Grove Assessed Value
$125,100
Average Boone County Assessed Value
$102,750
Average Arkansas Assessed Value
$113,950
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Western Grove, Boone County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72685 | $36,020 | $96,825 | $125,100 | $162,600 | $199,820 |
Source: Ownwell
Property Tax Bills Across Western Grove, Boone County, Arkansas
In Western Grove, Boone County, AR, property tax bills are calculated based on the assessed value of a home, which is determined as a percentage of its market value. The median home price in this area is $125,100. To determine the tax bill, the assessed value is multiplied by the local tax rate. For Western Grove, the median property tax rate is 0.99%, matching the national median. Homeowners in Western Grove can expect their tax bills to vary widely. At the 25th percentile, tax bills are around $655, while at the 75th percentile, they can reach up to $1,448. For those at the 90th percentile, tax bills can be as high as $1,804. These variations depend on factors such as property size, location, and any applicable exemptions. Understanding how these factors influence property taxes helps homeowners budget effectively and anticipate their annual financial obligations. Accurate assessments ensure fair taxation, impacting homeowners' financial planning and the community's overall economic health.
Average Western Grove Tax Bill
$1,062
Average Boone County Tax Bill
$870
Average Arkansas Tax Bill
$877
Average United States Tax Bill
$2,690
Property Tax Bills Across Western Grove, Boone County, Arkansas
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 72685 | $346 | $655 | $1,062 | $1,448 | $1,804 |
Source: Ownwell